Nothing can stop this bull market?
- Thread starter dividend
- Start date
The market does not pay by the amount of work you put in.
Look, I've tried to help guys on here before and the best advice I can give you is this, you can be bearish every single day of your entire life. And.....still make money. How? By looking for things within a bull market that are actually weak. It's not rocket science. Just as you can find stocks or markets that are rising in bear markets. I made the bulk of my money in 2000-2002 on the long side despite the nasdaq tanking 90%. Yes, it requires work. And it helps if you actually enjoy that kind of thing. But the trades are there.
Of course. But it punishes those who don't. In other words, hard work is a pre req. It's the cost of admission. It's the price to get on the floor. It does nothing except give you the opportunity to get to the next step. I will say this though, without the work, you don't have a snowball's chance in hell.
Here are some I believe are prerequisites:
1. Patience
2. Money
3. Some knowledge that is acquired only once (not repetitive work): market framework/context/etc, specific methods that work with the whys, and insights.
4. Ability to work LESS.
5. An IQ that is as low as possible as long as the above steps are done.
1. Patience
2. Money
3. Some knowledge that is acquired only once (not repetitive work): market framework/context/etc, specific methods that work with the whys, and insights.
4. Ability to work LESS.
5. An IQ that is as low as possible as long as the above steps are done.
Let us see your thinking: why did the stock market go up after the deal?
i have to agree with mav on the work point. i've been trading a long time and work harder than ever. ie: hours per night. i will also study over the weekends and have every trade predetermined for the following week. i review my models over and over and over even as i fine tune them...i wish there was an easier way but the reward imo is worth it.
I partly disagree.
You need instinct (which has nothing to do with hard work but with lots of trades you actually made) and the right mindset to cut losses if your instinct proves you wrong.
The unconscious part of your brain is your best friend but also your worst enemy. Because most traders can't control it to their advantage they cut it away by trading certain setups and a strict trading plan and thus loose the biggest advantage they have compared to computers.
Thanks for your excellent post. I think there is a lot of useful information in it. Could you say a bit more? Perhaps by illustrating when and how the unconscious can be a friend or an enemy.
Sure, I did not say hard work was the only thing....but ask charlie hustle why he has more MLB records than anyone else...practicing til his hands bled had something to do with it.